Why 3AC’s Collapse Could Spell the Start of a Crypto Credit Crunch – Ep. 376

Adam Cochran, partner at Cinneamhain Ventures, discusses the impact of 3AC’s impending liquidation. Show topics:

• why 3AC founders (and family members) are listing themselves as creditors
• what the “corporate veil” is and why it matters regarding 3AC
• where retail investors stand in the pecking order of creditors 
• why Adam doesn’t believe we know the full story about 3AC’s downfall, despite liquidators leaking a 1,000-page report about it
• what creditors might do with 3AC’s yacht
• why Adam is less worried about the health of GBTC in light of recent 3AC filings
• what effect 3AC’s fall will have on Genesis and Digital Currency Group
• why creditors might prefer liquidations to be paid out in equity compared to cash in this environment 
• how 3AC’s liquidation is impacting retail investors at Voyager and Celsius
• why there could be a crypto credit crunch coming soon

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Adam Cochran

Coverage

• Adam Cochran Twitter thread on 3AC liquidation: 
• Adam Cochran Twitter thread on 3AC contagion:
• 3AC founders subpoenaed
• 3AC x Genesis relationship
• 3AC owes creditors $3.5 Billion
• 3AC liquidation committee
• 3AC x Blockchain.com relationship
• Deribit liquidation dispute
• 3AC x StarkWare

Previous Unchained Coverage

• Wassielawyer on 3AC, Celsius, and Voyager